Acquisition Finance - banks unsupportive.


  • Crane hire company referred by another consultancy which could not find a solution
  • Banked by HSBC for over 30 years
  • Business in decline and loss-making with ownership and management of ageing family.
  • Husband and wife purchasers running two successful businesses, but who had no funds to invest of their own and no previous sector experience.
  • We were engaged when every mainstream bank had been unable to support the acquisition funding.
  • B2B project-managed in partnership with Larking-Gowen and Birketts Solicitors.
  • Funding attained on re-finance of part of the target crane fleet through a consortium of up to 6 lenders leaving the remainder of the fleet and the commercial property unencumbered.
  • However, a combination of ‘deferred loan notes’, and assigned funding of existing HSBC asset finance meant we only had to use two funders to fund the balance.
  • A ‘new-co’ set up for tax purposes.
  • Having delivered funding we referred Lloyds Bank to replace HSBC.
  • Potential of invoice finance also highlighted for future growth capital with 1st year T/O projected at £10 million.
  • Funding of subsequent crane acquisitions also facilitated.